Dutch-US biotech rais­es $61M to test ex-Mit­subishi Tan­abe drug for schiz­o­phre­nia

Mul­ti­ple biotech com­pa­nies have made noise in schiz­o­phre­nia R&D this year, with a land­mark drug ap­proval re­quest and sev­er­al large fi­nanc­ings, and on Tues­day morn­ing an­oth­er start­up en­tered the spot­light.

Kynex­is took the wraps off a €57 mil­lion (about $61 mil­lion) Se­ries A to tack­le the cog­ni­tive im­pair­ments as­so­ci­at­ed with the puz­zling brain dis­or­der.

The Naar­den, Nether­lands-based start­up plans to start test­ing an oral small mol­e­cule li­censed from Mit­subishi Tan­abe ear­ly next year, Kynex­is CEO Kees Been told End­points News. For­bion and Ys­ios Cap­i­tal cre­at­ed Kynex­is, which then in-li­censed the as­set, a KAT-II in­hibitor with the co­de­name KYN-5356, from Mit­subishi Tan­abe with a “nom­i­nal” up­front, Been said.

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